A daily dose of market updates to guide your investment decisions.
June 10, 2026
Chart of the Day
The Philippines’ unemployment rate eased to 4.7 percent in April from 5 percent in March, marking the first drop below 5 percent this year. The lower unemployment rate in April comes as the number of jobless Filipinos also declined to 2.41 million from 2.58 million in the preceding month, despite expectations of a weaker labor market amid the global energy crisis. Sources: Bloomberg, PSA
Financial market updates
The USD/PHP exchange rate opened 4 centavos lower at 61.65 on Tuesday, after the dollar dipped slightly overnight amid easing tensions between Iran and Israel.
The local pair temporarily climbed to highs of 61.70 as banks likely managed fixing demand, however these levels saw good interest from exporters and remittances, which allowed the pair to slide down below 61.60 in the morning.
Corporate demand was evident near 61.55, which led to a quick rebound of the pair, but demand faded beyond the 61.60-level.
The USD/PHP pair ultimately closed at 61.545, or 14.5 centavos lower day-on-day.
The current support levels of USD/PHP remain at 61.10/30, while the resistance levels are 61.75/62.00.
Peso government securities (GS) had a muted start on June 9 as most participants remained on the sidelines ahead of yesterday afternoon's bond auctions.
The Bureau of the Treasury capped highs and only partially awarded both auctions—FXTN 7-68 (3Y) within 7.150-7.409%, with an average of 7.307%, and FXTN 25-6 (8Y) within 7.450-7.650%, with an average of 7.580%.
Had the auctions been fully awarded, the highs for FXTNs 7-68 and 25-6 would have been 7.440% and 7.950%, respectively.
Activity picked up in the afternoon, with some selling in the 5-10Y area. FXTN 10-74 (10Y) underperformed, closing 30 basis points (bps) higher at 7.750% while other bonds ended 2-11 bps away from previous levels.
With the lack of key local catalysts for the rest of the week, the local market will continue monitoring global headlines. We see value in selling 2-3Y bonds at 6.750%-6.800% and switching to the recently reissued FXTN 7-68 at 7.325%-7.375%.
The Philippine Stock Exchange index ended 66.30 points higher at 5,945.71 on Tuesday, with the market building on mid-day gains as value buying held through the close despite a still cautious external backdrop.
Market breadth tilted mildly negative at 82 advancers versus 96 decliners on a steady value turnover of PHP 5.50 billion.
Foreign flows remained a headwind with net outflows of roughly PHP 155.98 million, reinforcing the view that offshore money is still reluctant to fully embrace the rebound.
The tone was constructive but still selective, with DigiPlus Interactive Corp. (+6.43%), SM Investments Corp. (+5.00%) and Monde Nissin Corp. (+3.55%) leading the charge.
Meanwhile, weakness in Ayala Land Inc. (-2.35%), JG Summit Holdings Inc. (-2.32%) and Bank of the Philippine Islands (-1.90%) tempered the overall move.
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